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The Newcastle Employment Bond: Investing in Local Communities

Author

Listed:
  • Arthur Affleck

    (Sustainable Cities Research Institute, Northumbria University)

  • Mary Mellor

    (Sustainable Cities Research Institute, Northumbria University)

Abstract

Concern with social exclusion and neighbourhood renewal has often focused on economic regeneration and new ways of stimulating employment or selfemployment in local economies. One recent initiative has been to raise private money through a bond with the social aim of creating local employment. This paper explores the Newcastle Employment Bond, its structure, the philosophy behind it and the motivations and expectations of the people and organisations who invested in it. The paper asks whether the Bond can be seen as a model of ‘Third Way’ thinking, providing an alternative to state funding of social exclusion and employment initiatives or reliance on purely profit-oriented economic regeneration.

Suggested Citation

  • Arthur Affleck & Mary Mellor, 2005. "The Newcastle Employment Bond: Investing in Local Communities," Local Economy, London South Bank University, vol. 20(1), pages 53-66, February.
    • Handle: RePEc:sae:loceco:v:20:y:2005:i:1:p:53-66
    DOI: 10.1080/0269094042000300551
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